Friday, September 14, 2012

"I Shall Be Released" -The Theme of President Obama's Second Term

Assume a political miracle occurs on November 6, rivaling that of President Truman's 1948 upset victory over Governor Tom Dewey. President Obama wins reelection. 

His narcissism and megalomania will become insufferable as he proves he is the smartest person in America. Hubris pride will rule America.

Thus, he enters his second term vindicated in his policies. His second term will be nothing like his first. He entered office on January 20, 2009 offering Hope.

The President will enter office on January 20, 2013, delivering Change.

He is free to complete his transformation of America. He will pursue his dream of fairness and world peace through American weakness, unfettered by any need to seek reelection, appease the Jewish vote, or worry about Congress. His inner marxism will emerge.

He said it best on March 26, 2012 to Russian President Dmitry Medvedev “This is my last election …. After my election I have more flexibility.”

The first test comes after election day when Congress sits in a rump session. The President two years ago agreed to a 2 year extension of the “reviled,” in his mind, Bush Tax Cuts. If they lapse, the top two marginal tax rates will rise from 33% to 36% and 35% to 39.6%. The current maximum tax rates on capital gains and dividends is 15%. The long-term capital gains tax rate will rise to 20% while the maximum dividend tax rate will be 39.6%.

The President will have no incentive to extend the cuts although a bipartisan Congress could override his veto.

ObamaCare will not be repealed so its tax increases will go into effect. A  3.8% Medicare surtax will be imposed on large income earners with an additional .9% increase to the Medicare tax rate. The maximum tax rate on capital gains will rise to 23.8% and the top dividend rate to 43.4%.

Economic history tells us the result will be an economic disaster for the country. Large tax increases help turn a deep recession into the Great Depression. Capital investment, the fuel of private economic growth, will shrink. Job growth will tank while unemployment reaches a post-Great Depression high. The public sector cannot survive without a viable private sector; hence, it will also shrink. The Political Science major will display for the world to see his ignorance of economics and history.

The only way to fulfill his goal of fairness is to make everyone equal, and dependent on the government rather than the free market. He will succeed through his economic disaster. Americans will lose.

With or without Democratic control of one or both houses of Congress, he will govern through executive orders, administrative agencies, and interim appointments. For example, the Obama EPA will kill coal and harass fracking. Alternative energy will continue to be uneconomical.

His vision of Congress is that it will execute his vision. If not, he will bypass Congress, such as he has done through his modified Dream Act. We will be watching an Imperial Presidency.

He will also wield the veto pen to prevent Congress from overturning his initiatives. He will elude any Senate blocking of appointments through interim appointments, even of Supreme Court nominees. The Obama Supreme Court, perhaps packed with interim appointments, will ratify almost all of his actions, rendering an independent judicial review a nullity.

He will demagogue any opposition from Congress or commentators.

His foreign policy will continue with the appeasement of our enemies while throwing Israel and Prime Minister Netanyahu under the bus. Egypt will be to President Obama what Iran is to President Carter. He may continue his first term lexicon of never using the phrase "Islamic Terrorist."

The President will spend even less time listening to security briefings, because he is so brilliant, and little time fundraising or campaigning, but make up for it by golfing, vacationing, and flying up to New York to watch plays.

His defense policy is simple. He will carry out the long-term leftist post-Vietnam goal of neutering the military. America will no longer be the one military force in the world. Outsource that to China.

Never forget that in his two short years in the United States Senate he earned the most liberal voting Senator, surpassing even the Massachusetts twins, Ted Kennedy and John Kerry.

Never forget that for 20 years he imbibed the Liberation Theology of the Reverend Jeremiah Wright.

He does not believe in American Exceptionalism. Hence minimizing America is a goal of his.

He will succeed in transforming America. In doing so he will fail the American people.

Even the mainstream media will have to recognize reality, stop cheerleading for the President, and blaming the GOP an Bush for all that ails America. That's how bad it will be.

 Tell me how I'm wrong.

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